To What Extent Is Business Model Innovation Relevant for Achieving Success in ECommerce from a MicroEconomic Framework

To What Extent Is Business Model Innovation Relevant for Achieving Success in ECommerce from a MicroEconomic Framework

The position of IBM was emphasised as well as other authors, but the most relevant position came from Vadim Kotelnikov, who gives a satisfactory explanation about the complexity of the new market conditions driven by technological innovation as much as business model innovations.AGLOCO (2007) stands for A GLOBAL COMMUNITY. It is a new online startup that it is promising to every member to Own The Internet as a slogan that hides within it the universal ideal of leveraging the power of the Internet in our lives. It could be in a direct way, or in an indirect one. It is a hidden desire of all cybernauts to own the Internet. AGLOCO has captured it in a simple slogan: Own the Internet. The driving force behind the Internet is to build a universal network where everybody can profit in one way or another. According to a neoclassical microeconomic perspective, there should be a solution to this dilemma as Adam Smith’s invisible hand in the market would level things up. According to evolutionary microeconomics, the market agents are not so rational as we would expect. Bounded rationality plays a strong influence in the interacting game of all of the market’s agents1. The contributions of the Nobel Laureates in Economics such as Herbert A. Simon, Daniel Kahneman, and Amos Tversky have expanded a new horizon where Behavioural Economics stands as a coherent macroeconomic framework in which we can find many explanations about consumer theory that are not possible to explain away with a neoclassical microeconomic model. Dawnay and Shah state seven principles for policy-makers around Behavioural Economics as follows:1.- Other people’s behaviour matters: People do many things by observing others and copying. people are encouraged to continue to do things when they feel other people approve of their behaviour.2.- Habits are important: People do many things without consciously thinking about them.

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